Danish bicycle manufacturer Biomega has decided to do what Peugeot, Opel and Skoda did more than a century ago and build its first car.

Known for its designer bikes, Biomega has unveiled its first four-wheel vehicle concept in Shanghai. Named SIN after the city-state of Singapore, it’s the company’s vision of a back-to-basics EV.

The name also puts it in line with the brand’s bicycles; that’s because all Biomega bikes are named with three-letter abbreviations of cities that inspired some elements of their design.

The company says its target with the SIN is to take its principles of social innovation, design thinking, and urban mobility and apply them to the automotive industry. Basically, Biomega founder Jens Martin Skibsted says the study is “another step in the natural progression of our ongoing battle against the combustion car.”

The four-door SIN may not look like a crossover utility vehicle (CUV), but that’s exactly how Biomega describes it. It’s designed to get passengers and cargo from A to B “in the most efficient way possible, minimizing time, money and power spent.”

To do that, the SIN adopts a less-is-more philosophy, using minimal components and lightweight materials. For example, the vehicle features four independent electric motors mounted on the outer sides of the wheels. Furthermore, the body shell is made of CFRP with aluminum crossbeams.

The minimalist approach to the design results in a roomy but rather austere cabin. Bolted on the flat floor are four independent bus-like seats with generous legroom. The SIN also features a front fascia window to increase visibility. Another interesting solution is the SIN’s open-wheel design.

Thanks to the use of lightweight composite materials and clever packaging, the SIN weighs just 950 kg (2,094 lbs). That includes the 20-kWh battery pack that tips the scales at 200 kg (440.9 lbs). Located under the floor, the batteries feature a modular swapping system that helps ease range anxiety.

Thanks to the low weight, driving range is estimated at 160 km (99 miles). As for performance, the 60kW (82PS/81hp) electric motors enable decent figures. The instantly available 160 Nm (118 lb-ft) of torque help it do the 0 to 100 km/h (0-62 mph) in 13 seconds and reach a top speed of 130 km/h (80 km/h).

Biomega says the SIN is easy to maneuver in tight urban spaces and can be adapted for a wide range of business models, including ride sharing or leasing. The company estimates it will bring its first EV to market between 2021 and 2023, for a projected price of €20,000 (about $22,950).